Accounting and Auditing Update (E1910439)

During the four hour session, each service (audit, preparation, compilation and review) is carefully reviewed and the various differences between the services are explored. The course is an excellent introduction to the services for newer CPAs and a fine refresher for experienced CPAs. 

Among other things, the course coverage includes: 

1. A summary of the four professional financial-statement services with comparisons of key issues. 
2. The determining factors between the services – reporting by the CPA.
3. A review of the Audit service, including the professional standards followed and the typical report rendered.
4. A review of the Review service, including the elements of the typical review engagement, independence issues, the engagement letter, the various financial reporting frameworks, review evidence, the representation letter and the typical written review report.
5. A review of the Compilation service, including the engagement letter, independence issues, the typical compilation report and various other compilation reports.
6. A review of the Preparation service, including coverage of independence issues, the “no verification” issues, no evidence, engagement terms, the engagement letter, documentation, other accounting services.

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